Assured Guaranty's quarterly profit rises

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Assured Guaranty Ltd.
AGO, +0.27%
late Thursday reported first-quarter net earnings of $39 million, or 57 cents a share, up 12% from $34.9 million, or 47 cents a share, in the first quarter of 2006. Operating income came in at $46.1 million, or 67 cents a share, up from $35.6 million, or 48 cents a share, last year. The Bermuda-based insurance holding company said revenue in the three months ended March 31 rose to $85.4 million from $74.3 million in the comparable period last year, while net written premiums rose 35% to $68.4 million from $50.8 million. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 55 cents.

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